Ballantyne remained a home seller’s market in September 2021. Months supply of inventory was down 45.5% compared with September 2020 with just a 0.6 months supply of homes. Housing inventory was down 46.7% year-over-year, resulting in fewer days on market, higher home prices with sellers receiving a median 100.1% of list price in sale price. Ballantyne area’s inventory is at historic lows.
Ballantyne (28277 Zip Code) Home Sales Report: September 2021
Ballantyne remained a seller’s market in September 2021 due to the continued lack of inventory, which dropped 46.7% year-over-year. Months supply of inventory was down 45.5% compared with September 2020 to 0.6 months of housing supply. The drop in housing inventory year-over-year resulted in 24 fewer days on market, on average. Closed and pending sales decreased year-over-year due to lack of inventory.
Average Ballantyne home sale prices increased 10.5% to $500,670 in September 2021 compared with the same month one year ago. Average home sale prices in Ballantyne were just over $119,000 higher than two years ago. Median home sale prices have increased 12.5% to $435,000 in September 2021. Median home sale prices increased approximately $110,000 since 2019. Home sellers received a median 100.1% of list price in final sale price (up 0.8% year-over-year).
Ballantyne homes continued to sell quickly with Median Days on Market just 4 days, down 4 days compared with one year ago and down 10 days from two years ago. Average Days on Market were 12 days, down 24 days year-over-year. It should be noted that average days on market for Ballantyne area homes were 35 days just two years ago.
Average Price Per Square Foot increased to $199/square foot in September 2021, up $30/square foot versus one year ago.
Closed sales decreased 8.3%, while pending sales decreased 26.3% in September 2021 compared with one year ago (primarily due to lack of inventory and new listings). Meanwhile, historically low interest rates continue to generate buyer demand. New listings were down 24.2% year-over-year and sold as quickly as they came on market.
One indicator of how much demand there is for homes is the average number of showings per listing. In September 2021 home listings averaged 19.7 showings per listing, up 33.1% from 14.8 showings in September 2020. In September 2019 the average listing had 9 showings.
Ballantyne’s months supply of homes remained razor-thin at 0.6 months (down 45.5% from 1.1 months one year ago and 2.0 months two years ago). This, coupled with a 46.7% drop in housing inventory in September, kept Charlotte’s Ballantyne area/28277 zip code a home seller’s market.
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Ballantyne Housing Market Highlights
September 2021 versus September 2020
MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA
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This Charlotte, North Carolina monthly real estate update for Charlotte’s Ballantyne area is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We’ve been opening doors for Ballantyne home buyers and sellers for 20+ years.
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